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Despite the global financial crisis, the company stayed on target and reached its projected revenue of $17 million for 2008, a 49% increase from the previous year, remaining profitable and generating cash from operations.

DataArt signed 39 new clients, among them artnet, Send Word Now, tennis.com and Misys, and was once again voted one of the world’s top 100 outsourcing providers by International Association of Outsourcing Professionals and by Global Services. The company secured a minority stake private equity investment, the first outside capital investment since DataArt’s inception in 1997, to strengthen sales and marketing efforts in high-end applications development and to support geographic expansion of delivery capabilities in Eastern Europe.

“World-wide financial crisis swept away artificial hype and provided a unique opportunity for DataArt to clearly see the landscape and to build on the true fundamental values we provide to our clients – domain expertise and dedication to client interests,” said Eugene Goland, President of DataArt.

DataArt received two additional competencies as Microsoft Gold Certified Partner: SOA & Business Processes and Mobility Solutions. Mobility Solutions competency for the Windows mobile platform has added to the company’s roster of other successful mobile development initiatives for Blackberry and iPhone.

One of the key achievements for 2008 was the launch of the online travel and hospitality practice in the U.S. and expansion of mobile solutions offerings to the travel industry. DataArt now offers development of custom booking engines with support for dynamic packaging, as well as integration with multiple travel inventory providers and payment systems backed by sophisticated content management system.

DataArt introduced another offering: implementation and customization of Microsoft Dynamics CRM, which includes CRM workflow configuration and development, installation, data migration and mining, and CRM reporting and development of custom Microsoft Outlook plug-ins.

Continuing its tradition of partnerships with leading academic institutions in Russia and the Ukraine, DataArt launched DataArt Labs, a new project with Kharkiv National University and Kharkiv National University of Radio Electronics (KHNURE), which focuses on discovering young talented IT specialists, drawing from the most accomplished students and post-graduates and offering them roles in the company’s projects.

DataArt has been repeatedly written up in the industry press and was named a Best-in-Class R&D Outsourcing Provider by Aberdeen Group.

About DataArt

DataArt is a high-end software outsourcing company with industry-specific expertise in financial technology, telecom and media sectors. The company specializes in enterprise application development, system integration and business automation tools. In 2006-2008, DataArt was named one of the world's top emerging outsourcing providers by BusinessWeek, CMP's Global Services 100 and by International Association of Outsourcing Professionals. Headquartered in New York City, DataArt runs R&D centers in St. Petersburg and Voronezh (Russia), Kherson and Kharkov (The Ukraine) and maintains offices in London, UK.

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